MEXCMetaplanet’s Fresh Bitcoin Purchase Sends Stock Soaring By 25%
Highlights
- Metaplanet purchased an additional 21.88 BTC for $1.26 million taking total holdings past 225 BTC.
- Metaplanet's Bitcoin adoption strategy has significantly boosted its stock price, surging another 25.81% today.
- The company's market cap now stands at 17.5 billion JPY, with Bitcoin holdings totaling 2.25 billion JPY.
Japan’s public-listed firm Metaplanet continued with its Bitcoin accumulation spree buying an additional 21.88 BTC earlier today for an estimated $1.26 million in total investments. This development comes as the Bitcoin price surged by an additional 4.5% on Monday, moving all the way closer to $65,000.
Metaplanet Builds Its Bitcoin Stack
Drawing a leaf from the playbook of MicroStrategy, Metaplanet has been slowly and steadily building its Bitcoin stack over the past two months. The Japanese firm has been consistently purchasing BTC every week implementing the effective strategy of Dollar-cost-averaging (DCA) during the recent Bitcoin correction.
Following today’s purchase, Metaplanet’s total Bitcoin holdings have surged past 225 BTC, valued at $14.55 million as of the current BTC price. Similar to MicroStrategy, Metaplanet has been also conducting bond sales to raise funds for BTC purchases.
*Metaplanet purchases additional 21.88 $BTC* pic.twitter.com/zCXzKFudog
— Metaplanet Inc. (@Metaplanet_JP) July 16, 2024
Today’s announcement has sent the Metaplanet share price soaring by more than 25.81% and is currently trading at 117 JPY. The company’s Bitcoin adoption strategy has provided a solid thrust to its stock which is up by more than 631% since the beginning of the year.
Metaplanet’s market cap is currently 17.5 billion JPY, with Bitcoin holdings on its balance sheet totaling 2.25 billion JPY. The percentage of Bitcoin in Metaplanet’s total assets is steadily increasing, and some market analysts predict it could exceed 100% soon.
Also Read: Metaplanet Boosts Bitcoin Strategy With 10:1 Share Consolidation
BTC Price Recovery
Over the past week, the Bitcoin price has staged a solid recovery gaining by a solid 13.3% and moving all the way closer to $65,000. A large part of this recovery has come during the last weekend after former President Donald Trump survived the assassination attempt during his election campaign rally.
On the other hand, strong institutional interest in Bitcoin has also contributed to giving a major push to the BTC price moving upwards. Strong inflows into the spot Bitcoin ETFs have dominated the market during the last week showing renewed institutional interest in the asset class.
On the other hand, with the global liquidity index taking a turn to the upside, analysts are predicting a parabolic bitcoin price rally going ahead.
Global Liquidity Index reflects #Bitcoin price.
We are about to go parabolic 🚀 pic.twitter.com/wb6wkjYR2Y
— Vivek⚡️ (@Vivek4real_) July 15, 2024
Also Read:
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Related Articles
- Strategy Raises $715M to Buy More Bitcoin Through New Preferred Stock
- JPMorgan Reveals $340M BlackRock Bitcoin ETF Bet Amid Crypto Treasury Decline
- Arthur Hayes Bets Big on Zcash as It Tops $10B and Surpasses Hyperliquid
- Kalshi Sees Nearly 50-Day Shutdown As Bitcoin Now Mirrors Nasdaq
- Breaking: Crypto Market Structure Bill Faces Delay Amid U.S Senate Drafting Issues
- NEAR Protocol Price Surges 37% as Open Interest Jumps 59% — Is $5 the Next Target?
- Can Ethereum Price Break Below $3k as Exchange Reserves Hit Record Lows?
- Avalanche Price Nears 60% Jump Ahead of Granite Upgrade as AVAX Burn Rate Jumps
- Bitcoin Price Crashes Below $100K: What’s Driving the Drop?
- Zcash Price Surges 24% as November 2025 Halving Hype Grows – Is $1,000 Next?
- Shiba Inu Price Soars 5%: Is SHIB About to Erase Another Zero?
